{"id":65500,"date":"2024-02-19T16:35:17","date_gmt":"2024-02-19T15:35:17","guid":{"rendered":"https:\/\/www.i4ce.org\/publication\/edition-2023-panorama-financements-climat\/"},"modified":"2024-02-20T14:09:15","modified_gmt":"2024-02-20T13:09:15","slug":"landscape-climate-finance-france-edition-2023","status":"publish","type":"publication","link":"https:\/\/www.i4ce.org\/en\/publication\/landscape-climate-finance-france-edition-2023\/","title":{"rendered":"Landscape of Climate Finance in France &#8211; Edition 2023"},"content":{"rendered":"<p><strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong>&#8216;s Landscape of Climate Finance is an overview of climate investments made by households, companies and public authorities. Such investments include retrofitting buildings, purchasing electric vehicles, installing renewable energy, as well as paying for rail, cycling and urban public transport infrastructure.<\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\">In France, climate investments reach \u20ac100 billion but remain insufficient<\/span><\/h2>\n<p>Climate investments by households, companies and public authorities reached \u20ac100 billion in 2022. Compared with 2021, investments in electric vehicles, renewable electricity generation, electric grids and retrofitting of buildings have increased. Rail infrastructure and nuclear power investments remained stable. Early data show climate investments increasing in 2023 as purchases of electric vehicles rose.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-65532  aligncenter\" src=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-100-bn-and-58-bn.jpg\" alt=\"\" width=\"436\" height=\"154\" srcset=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-100-bn-and-58-bn.jpg 728w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-100-bn-and-58-bn-300x106.jpg 300w\" sizes=\"auto, (max-width: 436px) 100vw, 436px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Further investments are needed, however, to significantly reduce greenhouse gas emissions. The draft scenario of the French national low-carbon strategy (<em>Strat\u00e9gie nationale bas-carbone<\/em>, SNBC) gives a first insight into climate investment needs. Compared with 2022, each year between 2024 and 2030 an additional \u20ac58 billion will be needed to meet climate investment targets. The needs are concentrated in retrofitting of buildings, electric vehicles and railways.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-65526  aligncenter\" src=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-Climate-investments-in-France-by-sector.jpg\" alt=\"\" width=\"792\" height=\"505\" srcset=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-Climate-investments-in-France-by-sector.jpg 1145w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-Climate-investments-in-France-by-sector-300x191.jpg 300w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-Climate-investments-in-France-by-sector-1024x653.jpg 1024w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-Climate-investments-in-France-by-sector-768x490.jpg 768w\" sizes=\"auto, (max-width: 792px) 100vw, 792px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\">A third of climate investments are funded by the public sector<\/span><\/h2>\n<p>While most climate investments are made by households and companies, public authorities financed a third of expenditure in 2022. The share of public funding varies widely depending on the sector, from 17% for low-carbon vehicles and renewable energies to 92% for transport infrastructure. It includes national and local government expenditures, loans and holdings by public banks, and the resources of public housing authorities and infrastructure management companies. In addition, the government has a stake in companies such as EDF and SNCF, and regulates corporate investment in the electricity and gas networks.<\/p>\n<p>&nbsp;<\/p>\n<p>As a result of the COVID\u201119 recovery plan adopted at the end of 2020, government spending on climate action increased in the sectors studied in 2021 and 2022, but early data show a sharp fall in 2023. A large part of this decline is due to the levelling off in 2022 of public service electricity charges (<em>Contribution au service public de l&#8217;\u00e9lectricit\u00e9<\/em>, or CSPE) against high electricity and gas prices, and has no impact on funding of new projects. However, early data show public spending on railways, cycling infrastructure, urban transport, building retrofitting and electric vehicles remaining stable in 2023, while the costs of these projects are rising. The 2024 budget, presented in autumn 2023, provides for an increase in expenditure across the broader scope of ecological planning.<\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\">Main trends in four key sectors<\/span><\/h2>\n<p>Annual investment in energy retrofitting of buildings is rising, reaching \u20ac22 billion by 2022, but the proportion of deep renovation remains low. Subsidies for home retrofitting and recovery plan funding for public building retrofitting have sustained investment after a decline during the pandemic. Purchases of older properties, which are a prime opportunity for deep renovations, are declining as bank lending rates rise. The draft scenario of the national low-carbon strategy targets more deep renovations, particularly in energy-intensive buildings, requiring an additional investment of \u20ac28 billion per year between 2024 and 2030.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-65530  aligncenter\" src=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-energy-retrofits-of-building-and-low-carbon-vehicles.jpg\" alt=\"\" width=\"439\" height=\"233\" srcset=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-energy-retrofits-of-building-and-low-carbon-vehicles.jpg 732w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visual-energy-retrofits-of-building-and-low-carbon-vehicles-300x159.jpg 300w\" sizes=\"auto, (max-width: 439px) 100vw, 439px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Investment in low-carbon vehicles, particularly electric vehicles, is growing rapidly, reaching \u20ac16 billion in 2022, driven by the momentum created by the European regulations that entered into force in 2020, as well as by national subsidies and regulations. The extended range of batteries and the growing density of the recharging network are contributing to the rise of electric vehicles purchases. However, demand for electric light and heavy goods vehicles is still low. The gradual electrification of all segments would lead to additional investment of \u20ac27 billion per year between 2024 and 2030.<\/p>\n<p>&nbsp;<\/p>\n<p>Investment in railways, cycling lanes and urban transportation increased slightly in 2022, reaching \u20ac12 billion. Deployment of major projects, such as the <em>Grand Paris Express<\/em> and the <em>Seine Nord Europe<\/em> canal, has contributed to the increase in investment. Investment requirements for 2024\u20112030 amount to \u20ac6.5 billion above the 2022 level, while public support for the sector is expected to decline slightly in 2023.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-65528  aligncenter\" src=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visuel-modal-shift-infrastructures-and-renewable-energies.jpg\" alt=\"\" width=\"439\" height=\"222\" srcset=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visuel-modal-shift-infrastructures-and-renewable-energies.jpg 734w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2024\/02\/visuel-modal-shift-infrastructures-and-renewable-energies-300x152.jpg 300w\" sizes=\"auto, (max-width: 439px) 100vw, 439px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Investment in renewable energies rose sharply to \u20ac12 billion in 2022. This record level can be explained by the dynamism of offshore wind power projects and the increase in installation of photovoltaic panels for self-consumption of solar power. Investment in renewable gas and heat is stable. Although the rise in the price of fossil gas has made these projects more profitable, their cost has risen sharply due to shortages of materials. Annual investment needs in this sector are estimated at an additional \u20ac2 billion, with the rapid increase in the rate of installations being offset by the anticipated fall in equipment costs.<\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\">In 2024, the government will have to lay out its strategy for financing the transition<\/span><\/h2>\n<p>In 2024, the government will have to introduce its multiannual strategy for financing the ecological transition (<em>Strat\u00e9gie pluriannuelle pour le financement de la transition \u00e9cologique<\/em>, SPFTE). This will provide an opportunity to better identify the public and private funding that will be needed to bring the country\u2019s investments up to the level of its climate objectives. The <strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong> Landscape already provides a solid basis for this strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I4CE&#8217;s Landscape of Climate Finance is an overview of climate investments made by households, companies and public authorities. Such investments include retrofitting buildings, purchasing electric vehicles, installing renewable energy, as well as paying for rail, cycling and urban public transport infrastructure.<\/p>\n","protected":false},"featured_media":65509,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false},"type_publication":[49],"class_list":["post-65500","publication","type-publication","status-publish","has-post-thumbnail","hentry","type_publication-climate-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Landscape of Climate Finance in France - Edition 2023 - I4CE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.i4ce.org\/en\/publication\/landscape-climate-finance-france-edition-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landscape of Climate Finance in France - Edition 2023 - I4CE\" \/>\n<meta property=\"og:description\" content=\"I4CE&#039;s Landscape of Climate Finance is an overview of climate investments made by households, companies and public authorities. 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